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Ideologies of ConservatismConservative Political Ideas in the Twentieth Century$
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E. H. H. Green

Print publication date: 2002

Print ISBN-13: 9780198205937

Published to Oxford Scholarship Online: January 2010

DOI: 10.1093/acprof:oso/9780198205937.001.0001

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Searching For the Middle Way: The Political Economy of Harold Macmillan

Searching For the Middle Way: The Political Economy of Harold Macmillan

Chapter:
(p.157) Chapter 6 Searching For the Middle Way: The Political Economy of Harold Macmillan
Source:
Ideologies of Conservatism
Author(s):

E. H. H GREEN

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198205937.003.0007

This chapter charts the development of the political economy of Harold Macmillan from the 1920s to his retirement as Prime Minister in the autumn of 1963. It outlines the changing nature of his concept of a ‘middle way’ between socialism and unfettered capitalism, and the similarly challenging response of the Conservative Party to it. Macmillan's ideas on industrial reorganisation enabled by the State, State investment, the regulation of capital markets, monetary policy and employment, and their similarities and differences with those of Keynes are discussed.

Keywords:   Harold Macmillan, middle way, Keynes, political economy, socialism, capitalism, Conservative Party, monetary policy, industrial reorganisation

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